For example, a living trust is often an explicit trust, which is also a revocable trust and may contain an incentive trust, etc. In the United States, the Trust Code uniform provides for appropriate compensation and reimbursement for directors subject to judicial review, although directors may be unpaid. Commercial banks that act as trustees typically calculate about 1% of assets under management.  For example, for tax purposes, all income generated by the trust is considered income of the licensor and must be included in the licensor`s income tax return (Form 1040). For estate tax purposes, the entire value of the revocable trust is considered part of the licensor`s taxable estate. .